What Is Standard Tax Deduction For 2024 Married Jointly

What Is Standard Tax Deduction For 2024 Married Jointly. And for heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of $1,100 from the. Joint filers can increase their standard deduction by a combined $3,200.

This means that if your taxable income is less than $27,700, you will not owe any taxes. For the 2023 tax year (for forms you file in 2024), the standard deduction is $13,850 for single filers and married couples filing separately, $27,700 for married couples.